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Dominion has signed a purchase and sale agreement for three merchant generation power stations with a subsidiary of funds controlled by Energy Capital Partners, a private equity firm with offices in New Jersey and California.
The sale is expected to close in the second quarter of 2013.
The power stations are:
Brayton Point Power Station, a 1,528-megawatt power station in Somerset, Massachusetts, with three coal-fired units and one unit fired by oil or natural gas. Dominion has owned it since 2005.
Kincaid Power Station, a 1,158-megawatt power station in Kincaid, Ilinois, with two 579-megawatt coal-fired units. Dominion has owned Kincaid
Taylor Wessing, the international law firm, has advised Inflexion Private Equity Partners on the sale of Pims Group, the wastewater services company, to US buyer Xylem, a water technology company, for a headline price of USD57m.
The transaction is the first instruction for the firm from new client Inflexion and follows partner James Goold’s recent arrival from Jones Day.
Goold, who led the transaction, says: "I am delighted to have completed this disposal for Inflexion so soon after my arrival at Taylor Wessing. Having acted for Inflexion on the original buy-out of the Pims Group, and subsequent acquisitions, it is
Money manager Neuberger Berman Group has held final close of NB Strategic Co-Investment Partners Fund II (NBCIP II), its second global private equity co-investment fund.
NBCIP II was oversubscribed, closing on USD1.1bn and surpassing its target of USD750m.
NBCIP II seeks to achieve superior risk-adjusted returns by investing directly into attractive deals alongside premier private equity firms in their core areas of expertise. It seeks to build a high-quality, diversified portfolio of strategic co-investments primarily in buyouts and growth financings on a global basis across multiple industries. NBCIP II has made nine investments to date for approximately USD185m and continues
Healthcare and financial services executives Jonathan Doctor, Glenn Golenberg and Sherwin Voss have formed DeNovo Health Partners to help healthcare services organisations and medical groups address the myriad of changes and regulations begin imposed on the industry.
DeNovo Health Partners can provide support for practice management, implementing electronic health record technology, ACO contracting, compensation, preparing for bundled payment reimbursement, or other business process improvement needs.
Additionally, if there is a need for capital, an add on acquisition or joint venture, DeNovo has the experience to source capital, structure transactions and other growth strategies.
“At no other time in our history,
The Securities and Exchange Commission has charged two investment advisers at Oppenheimer & Co with misleading investors about the valuation policies and performance of a private equity fund they manage.
An SEC investigation found that Oppenheimer Asset Management and Oppenheimer Alternative Investment Management disseminated misleading quarterly reports and marketing materials stating that the fund’s holdings of other private equity funds were valued “based on the underlying managers’ estimated values.”
However, the portfolio manager of the Oppenheimer fund actually valued the fund’s largest investment at a significant markup to the underlying manager’s estimated value, a change that made the fund’s performance
Arma Partners acted as the exclusive financial adviser to the shareholders of Arieso on its sale to JDS Uniphase Corporation (JDSU) for USD89m in cash.
Headquartered in Newbury UK, Arieso brings mobile software expertise to JDSU to address the rapidly growing deployment of small cells and challenges associated with limited spectrum capacity.
Adopted by leading wireless network operators and equipment manufacturers, Arieso’s solutions locate, store and analyse data from billions of mobile connection events that translate into rich intelligence to help mobile operators optimise network performance, improve customer experience and create new revenue-generating services.
The acquisition advances JDSU’s mobility
PAI Partners has acquired airfield lighting specialist ADB Solutions from Montagu Private Equity.
The terms of the transaction, which is subject to regulatory clearances, have not been disclosed.
ADB serves over 2,000 airports across more than 175 countries internationally. The company develops, manufactures, and sells a portfolio of AGL products and services for airports of all sizes, from large international hubs to smaller airports, military bases and heliports. ADB is headquartered in Brussels, with manufacturing presence in the US and China and a global network of sales offices and distributors.
Montagu acquired ADB from Siemens in 2009 and created an
David Willetts, the UK’s Minister for Universities and Science, has announced a GBP3.7m investment to fund projects that apply innovative photonics technologies to solve challenges in the health sector.
The investment seeks to encourage the formation of new business-led partnerships between academia, industry and health providers, to validate and highlight new applications of photonics in healthcare.
The investment will be administered by the Technology Strategy Board, the UK’s innovation agency and run as a two-part process – the first part being a single-stage competition for feasibility studies, including at least one small or medium-sized enterprise (SME) and lasting between six
Maven Capital Partners, a venture capital trust, private equity and alternative asset manager has launched a GBP5m top-up offer for Maven Income and Growth VCT 4.
The offer, which will close on 30 April 2013, is available for subscriptions for both the tax years 2012/13 and 2013/14.
The offer provides access to a mature VCT portfolio, and an investment that also benefits from the initial tax relief of up to 30 per cent available on new VCT shares.
Bill Nixon (pictured), managing partner at Maven, says: "Following the success of recent top-up offers by four of the other Maven VCTs,
Intervale Capital, an energy-focused private equity firm, has partnered with a management team to form Certus Energy Solutions.
Certus is focused on providing premium oil country tubular goods (OCTG) and other downhole products, and is headquartered in Houston, Texas.
Certus currently services customers in the Rocky Mountain and Mid-Continent regions of the US and has plans to expand to other regions.
Patrick Williamson, previously a senior vice president at Key Energy Services, serves as Certus’ president and chief executive officer. He brings over 30 years of oilfield service experience to the company, and has recruited a team of veteran operational
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